USDCHF: ⬇️ Sell
– USDCHF falling inside a minor impulse wave
– Likely to fall to support level 0.7900
USDCHF currency pair is falling strongly inside the minor impulse wave 3, which recently broke the daily down channel from the start of May.
The breakout of this down channel follows the earlier breakout of the key support level 0.8055 (which stopped the previous impulse waves (1) and i).
Given the strong daily downtrend and the continuous outflows from US dollar or risk-on mood, USDCHF currency pair can be expected to fall to the next support level 0.7900, the target price for the completion of the active impulse wave 3.
Source: Fxpro
